Although based in Australia, the fund was clearly created with global investors in mind. Investments are currently accepted in AUD, USD, RMB and BTC. Startups interested in receiving seed funding are encouraged to apply, regardless of physical location.
In a press release about the launch, FCBF Co-Founder & Chairman Domenic Carosa noted the significant potential for Australian bitcoin investment, which is still generally regarded as being in its infancy.
We view the emerging Bitcoin ecosystem as an investment opportunity that has transformative potential across a raft of social, technology- based and cultural applications and we see great scope for the broader adoption of Bitcoin and its related applications to redefine the global payment status quo. … This is a very exciting opportunity for global investors to participate in the Bitcoin ecosystem via Future Capital’s Bitcoin Fund. Australia has low sovereign risk and a globally trusted financial system.”
FCBF claims that its team has over 50 years of collective investment and funds management experience, having been involved with over 100 startups and four previous VC funds. The company claims that it’s team has raised more than $150 million in international investments for its non-bitcoin funds, and has grown companies from no revenue to as much as $100 million.
When combined with the other VC funds entering the bitcoin ecosystem since 2013, the total pool of investment dollars for bitcoin startups is rapidly approaching a quarter of a billion dollars.